By US Daily Review Staff
Joint Economic Committee Vice Chairman Kevin Brady questioned Federal Reserve Chairman Ben Bernanke about whether more federal reserve action is forthcoming at “The Economic Outlook” hearing this morning. “It’s my belief that the Fed has done all that it can do – and perhaps done too much,” Brady told the Fed Chairman “There exists a real risk that the massive amount of liquidity the Fed has already injected into the economy could trigger higher inflation before the Fed can execute its exit strategy.”
“I also believe another round of Fed intervention will increase uncertainty among job creators while, ignoring the genuine reason for low business investment and job creation: sound, timely fiscal policy,” added Brady, who also bluntly told the Federal Reserve Chairman “our economy has struggled to grow at an annualized average quarterly increase of 2.4%. To place it in perspective, of the 10 economic recoveries since World War II lasting more than a year, this recovery ranks, regrettably, tenth. And dead last is unacceptable by any standard.”
Watch: Brady’s opening remarks.
Watch: Brady asks Bernanke some tough questions.